Fanzee raises $2 million to enhance sports fan experience

The company will direct the funds towards team growth, evolving its sports fan ecosystem, and ramping up the development of its platform to forge closer ties between sports clubs and their fans. Combining this with latest blockchain trends, the new investment helps establish Fanzee as the industry’s preeminent sports fan engagement platform through a series of novel programs.

The private financing round saw participation from a clutch of high-profile blockchain investors. Namely, the fresh capital injection was led by TONcoin.fund, a $250m fund which invests in teams building on the TON ecosystem, alongside venture studio First Stage Labs.

Fanzee also asserts to have secured backing from notable angel investors, including MEXC Pioneer, KuCoin Ventures, Huobi Incubator, vlg.digital, 3Commas, Orbs.com, and Hexit.capital, part of Swiss based Hemma Group.

“It is an honour to be backed by some of the brightest minds in the web3 movement as we build on the TON ecosystem which will provide immense value to millions of sports fans through utility-based digital assets,” said Fanzee CEO Ajay Jojo. “We are thrilled to begin the next chapter in our journey to reimagine fan engagement in sports and entertainment. It is an exciting time to be at the forefront of innovation in the intersection of sports and blockchain technology where our values of being product- and fan-first will shine through.”

“We truly believe that Fanzee could be a game changer for sports organizations as their focus is to help bring sports fans to the forefront of the game and engage with them in a way that has just not been possible before,” said Mark Chadwick, Head of Diligence at TONcoin.fund. “Some supporters are lucky enough to follow their club home and away throughout the season. But for many, that is simply not possible due to geographic or financial constraints. Fanzee’s platform, with its gamification mechanics, will generate true value for sports organizations and their fans.”

Fanzee assists teams in monetising fan base

Sport is nothing without the fans and as the world has gone digital — sports lovers included. Fanzee is revolutionizing the old school of getting fans through the gates of the stadium. Utilizing blockchain innovations such as tokenization, Fanzee offers clubs unique benefits in terms of global fan engagement, new revenue models and business streams, as well as the added operational efficiencies and sponsor relations.

Fanzee employs a number of advanced gamification mechanics that tap into blockchain technology as an effective tool in transforming fan loyalty in sports. The startup’s arsenal includes digital collectibles, rewards-based quizzes, fantasy management games, Fanz Leaderboard (club and global), club tokens, and NFT tickets.

Tapping into these blockchain-native assets, Fanzee takes Web3 fan engagement to the next level, increases fan loyalty, and offers unrivaled speed of transparency, security and ownership. Additionally, these assets can be bought, sold or exchanged by fans to create a team-based economy.

Within the sporting loyalty program, fans, sponsors, and the team itself can experience 360-degree engagement. As such, Fanzee’s technology can effectively assist sports teams in monetising their fan base. Compare this to traditional loyalty programs, which rely on costly middlemen and lack transparency or data integrity.

Fanzee offerings not only satisfy fans’ passion for the favorite sport or team, but also opens the potential for new efficiencies. For instance, the data captured from transacting with the loyalty program can be used to improve marketing decisions and offers a niche for sponsors’ content and products to be rewarded.

This concept helps sports clubs reach out to their fans, motivate and reward them to personalize their experiences, which ultimately incentivize true supporters into undertaking revenue-generating actions.